Fletcher Sues to Block Cayman Liquidation of Hedge Fund

BusinessWeek – Fletcher International Ltd., a bankrupt hedge fund managed by the investment firm of Alphonse “Buddy” Fletcher, sued some of its own Cayman Islands-based funds to block liquidators from selling its assets.

The lawsuit, filed in U.S. Bankruptcy Court in Manhattan July 2, days after the fund’s own Chapter 11 bankruptcy, seeks to stop Ernst & Young, the official liquidators winding down related funds in the Cayman Islands. The liquidations come after three Louisiana pension funds sued to get their money back.